Belden (BDC) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research note published on Friday.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Belden from $90.00 to $97.00 and gave the company an in-line rating in a research note on Wednesday, December 6th. Guggenheim reaffirmed a buy rating and set a $90.00 price target on shares of Belden in a research note on Wednesday, December 6th. Zacks Investment Research downgraded shares of Belden from a hold rating to a sell rating in a research note on Tuesday, February 6th. Canaccord Genuity reaffirmed a buy rating and set a $94.00 price target on shares of Belden in a research note on Friday, December 1st. Finally, Cross Research downgraded shares of Belden from a buy rating to a hold rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $93.00.

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Shares of Belden (NYSE:BDC) traded down $5.44 during midday trading on Friday, reaching $64.55. 1,225,920 shares of the company’s stock traded hands, compared to its average volume of 298,315. The company has a current ratio of 2.02, a quick ratio of 1.58 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $2,934.72, a P/E ratio of 47.12 and a beta of 2.34. Belden has a twelve month low of $64.51 and a twelve month high of $87.14.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.15). The firm had revenue of $604.88 million during the quarter, compared to the consensus estimate of $648.92 million. Belden had a return on equity of 18.20% and a net margin of 3.90%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS. research analysts predict that Belden will post 6.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Wednesday, March 14th. Belden’s payout ratio is 14.60%.

In related news, SVP Ross Rosenberg sold 779 shares of Belden stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the transaction, the senior vice president now directly owns 5,329 shares of the company’s stock, valued at $399,675. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock valued at $190,000 after buying an additional 718 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in Belden during the fourth quarter valued at approximately $197,000. Zeke Capital Advisors LLC purchased a new position in Belden during the fourth quarter valued at approximately $202,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Belden by 550.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock valued at $212,000 after buying an additional 2,229 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in Belden during the third quarter valued at approximately $224,000.

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About Belden

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

Analyst Recommendations for Belden (NYSE:BDC)

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